Northstar Asset Management Cuts Stake in Apple Amid Strong iPhone Sales Predictions

Northstar Asset Management Inc., a financial institution, has reduced its stake in Apple Inc. (AAPL) by 7.8% during the second quarter of this year. According to the company's most recent Form 13F filing with the SEC, Northstar Asset Management owned 64,819 shares of Apple stock after selling 5,449 shares during the period. This reduction made Apple account for 5.5% of Northstar Asset Management's portfolio, making it its fourth-largest holding.

The firm's holdings in Apple were valued at $18,756,000 as of its most recent filing with the SEC. Other institutional investors have also adjusted their stakes in Apple, with Nuveen LLC increasing its position by 3.8% during the fourth quarter and Amundi raising its stake by 23.2% during the first quarter.

Meanwhile, analysts have been weighing in on Apple's performance, with some predicting a strong future for the company's iPhone sales. Counterpoint Research estimates that Apple could sell approximately 6 million iPhone Duo foldable handsets in 2026, despite the device's premium starting price of $1,999.

However, not all news is positive for Apple. Bank of America warned that Meta's Muse and other AI agents could divert product discovery, shopping activity, and services revenue away from Apple's ecosystem, increasing pressure on Siri, Apple Pay, and the App Store.